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Real estate discounts getting bigger

According to the latest sales data of OTP Real Estate, between November 2019 and the end of January 2020, buyers could receive an average discount one-third higher than a year earlier as a result of last-minute negotiations, writes penzcentrum.hu. 

Photo by Fabio Balbi/Shutterstock.com

While at the end of 2018 and at the beginning of last year, when the contract was signed, the final target price was lowered by an average of 3.1%, a year later, buyers were able to reduce property prices by 4.4%.

For the whole of 2019, the average price per square meter of an apartment in Budapest was HUF 618,000, according to OTP mortgage data. So if you buy a 50 sqm flat, you could save up to HUF 1.35 million with a 4.4% bargain, penzcentrum.hu explains.